Commercial Property Insurance Policy Summary

This document provides a summary of the significant features, limitations and benefits of the cover available within this Landlords Commercial Let policy. This summary does not contain the full details of the terms, conditions, exclusions and warranties applicable therefore please refer to the policy wording for the full details. The policy wording is available on request.

About this insurance

This is a package policy for commercial property owners, aimed at both single blocks and portfolios. The standard duration of this noninvestment insurance contract is 12 months unless otherwise agreed by us.

About the Insurer

This policy is underwritten by Anglo Pacific Consultants (London) Ltd for and on behalf of certain underwriters at Lloyd’s of London and DAS Legal Expenses Insurance Company Limited. Lloyd’s and DAS are authorised and regulated by the Financial Services Authority.

Significant features and benefits

  • Automatic index linking at renewal.
  • Loss of rent up to 20% of the building & contents sum insured.
  • Loss of metered water up to £5,000 for any one event and £15,000 in any period of insurance.
  • Breakage of glass cover included
  • Cover for the cost of professional fees, removal & demolition and rebuilding or repairing following a loss on the buildings.
  • Third party interests can be noted provided we are informed.
  • Locks & keys replacement up to £1,000.
  • Trace and access cover up to £10,000 for any one event and £25,000 in any period of insurance.

Insured events for buildings & contents

Cover provided for damage to property insured against:-

  • Fire and smoke
  • Earthquake
  • Explosion
  • Lightning
  • Aircraft
  • Riot & civil commotion
  • Impact
  • Breakage or collapse of communication aerials
  • Falling trees or branches, telegraph poles or lamp posts
  • Theft or attempted theft
  • Malicious acts/vandalism up to £5,000 for any one event
  • Flood
  • Escape of water or oil
  • Subsidence, heave or landslip
  • Storm

Definition of buildings

Wide definition including garages, greenhouses, sheds, central heating oil tanks, gas tanks, septic tanks, hard tennis courts, swimming pools, patios, drives, paths, walls, fences, gates, and landlord’s fixtures and fittings.

Definition of contents

Wide definition including household goods, furnishings, carpets, curtains, furniture, high risk items.

Optional cover extensions

  • Accidental damage on buildings and contents (restricted for certain tenant types).
  • Increased Loss of rent sum insured from 20% to 30%
  • Terrorism cover for buildings and contents.

Legal expenses including:–

  • Cover for up to £100,000 per insured incident (inner limit of £2,000 for aspect enquiries and tax intervention enquiries).
  • Cover for contract disputes
  • Cover for health & safety prosecutions
  • Cover for data protection.
  • Cover for employment disputes & compensation awards.
  • Cover for criminal prosecution
  • Cover for bodily injury.
  • Cover for property protection
  • Cover for tax protection
  • Cover for statutory licence protection
  • Cover for tenancy disputes.
  • Free access to on-line businesslaw service.
  • Free legal advice, tax advice and unfunded business assistance helplines.
  • Free counselling helpline for employees.

Property owners liability

  • Cover included for £2,000,000 any one event plus agreed costs and expenses with an option to extend cover to £5,000,000 any one event.
  • Legal liability for injury to any person other than you
  • Loss or damage to property which you or your domestic employees do not own or have legal responsibility for.
  • Legal liability arising under the Defective Premises Act 1972 or Section 5 of the Defective Premises (Northern Ireland) Order 975, In connection with premises disposed of.

Significant general exclusions

  • Wear and tear, corrosion, rot of any kind, woodworm, fungus, mildew, rust, insect, vermin, moth, any gradually-operating cause, mechanical or electrical breakdown.
  • Damage caused by faulty design, workmanship or material (see Exclusions under Escape of water, Subsidence and Accidental damage).
  • Subsidence caused by new structures bedding down, normal settlement, shrinkage or expansion.
  • Terrorism Cover (Unless the terrorism extension is selected)

Significant general conditions

  • Excess – the amount specified in your schedule which must be paid towards each and every claim.
  • The property must be in good condition and all reasonable care must be taken to prevent loss, damage, accidents or injury.
  • Subsidence caused by new structures bedding down, normal settlement, shrinkage or expansion.
  • Any change in information which is relevant to this insurance must be given to us as soon as possible

Significant legal expenses exclusions

  • Any claim reported more than 180 days after an insured person should have known about the claim.
  • Any costs incurred before the insurer agrees to pay them.
  • Fines, penalties, compensation or damages which an insured person is ordered to pay, other than compensation awards as covered under insured incidents data protection and employment compensation awards.
  • Civil claims which do not have reasonable prospects of success.
  • The first £200 of costs in respect of aspect enquiries and tax intervention enquiries.
  • Contract Disputes where the amount in dispute is less than £250 or more than £5,000.

Significant legal expenses conditions

  • The insurer will choose a representative to help the insured person in cases where the insurer is liable to pay a compensation award. In any other case, the insured person is free to choose a representative if the insurer agrees to start legal proceedings and it becomes necessary for a lawyer to represent the interests of the insured person in those proceedings; or there is a conflict of interest.
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